During the preparation and administration of a person’s estate, the estate planning lawyer in Boise has many responsibilities and duties to perform. The most common task that an estate planning lawyer undertakes is to draft wills. While planning the disposition of the client’s property via his or her will, the lawyer also advises the client on the tax implications of the property disposition, the lawyer may also set up trusts and finally, upon the death of the client, the same lawyer is often appointed as the executor of the will.
Although you will see DIY will kits in many stationary stores and on the internet, the drafting of a will is more complicated than what one might expect. Depending on the jurisdiction, there may be special rules in force, the language used must be appropriate as must be the execution of the will. Anyone who wants a will which will ensure that his or her possessions and property are disposed of as desired after death is well advised to seek the services of an estate planning lawyer in Boise, otherwise there may be difficulties and the property will not be distributed as desired.
Depending on the jurisdiction where the will is prepared there may be specific rules that address the tax implications of the types of property disposition. In some jurisdictions there are hefty estate taxes which take a significant portion of the estate and hands it over to the government. For those individuals who reside in these jurisdictions, an estate planning lawyer becomes all the more important as the lawyer can arrange the disposition of the estate in such a way that the tax impact is lessened.
There are situations where the individual will be better off by having a testamentary trust established for one or more of the heirs. To cite an example; perhaps the person wants to make sure that the grandchildren are well set to pursue a college education, that person can establish a testamentary trust upon death with proceeds from his or her estate, the attorney who assists in planning the estate can set up this trust so that as the grandchildren graduate successfully from high school, the trust funds are applied to further college education of that particular grandchild.
If you are considering your will and you need an estate planning lawyer in Boise you are invited to contact Finch-O’Neil Law Office.